looks cheap, page-4

Yes I agree ARD have a nice low grade resource but as another poster pointed out ARD will have to spend major $$$$ on a flotation plant to handle the Silver,zinc,lead,gold mix

Bass metals which have a similar mix of metals and plan to use a plant that ARD are hoping to use ,ARD'er should know more later this year when ARD annouce if they will going ahead with a plan to mine Kempfield(production late 2012?)

Facts on Bass metals plant--
The Hellyer Mill is a 1.5mtpa flotation concentrator within 1 km of Bass Metals? HMP resources and well suited to treat its polymetallic ore types to produce high value metal concentrates. On completion of the acquisition Bass Metals will evaluate processing ore from a variety of its projects, such as the Hellyer-Que River mineral resources and potentially its gold resources as well as 3rd party ores, to maximise the revenue potential of this modern, well maintained, comprehensive mineral processing facility

The Hellyer Mill alone has an estimated replacement value well in excess of $100 million.(now ARD do have other options like selling their metal ore to another plant as feedstock etc)

AYN already have a plant worth 30mill+ they heap leach their silver concretate which is currently underway

CCU will also be in production soon

SVL have very high silver grades (lower coast cheaper heap leach mining likely)

ARD has a good resource but is a long way from making a dollar from it ............